3 Charged With Fraud in Jewelry Firm Stock Case

Three people were charged Thursday with defrauding investors in a start-up jewelry company of $640,000 in a case involving a New York brokerage already under scrutiny by federal authorities, the U.S. attorney said.

Stock of the jewelry company, Renaissance Enterprises, was underwritten by Monarch Funding Inc. of New York.

In a 1985 civil lawsuit, the Securities and Exchange Commission charged Monarch, its president, an employee and two others with manipulating the stock of two Washington companies. The action was put on hold until January while the U.S. attorney in Newark conducts an overlapping criminal investigation, said SEC attorney Barry Goldsmith in Washington.

An indictment unsealed Thursday accused Eric Wynn, 29; his wife Annabelle Salaverria Wynn, 42, of Edison, N.J., and Francis LaMagra, 40, of Paramus, N.J., of conspiracy, interstate transportation of fraudulently obtained stockholders’ funds and income tax violations. The indictment was returned May 20.

Eric Wynn was president of Renaissance, Annabelle Wynn was vice president and LaMagra was an officer of Intercoastal Affiliates, a company that dealt with Renaissance, the indictment said.

It said they used several means to siphon off funds from the offering, including making checks payable to accounts under different names controlled by Eric Wynn and under Annabelle Wynn’s maiden name.

The defendants could not be reached for comment.